Entrepreneurship as Career Option - 1958 Words

ENTREPRENEURSHIP AS CAREER OPTION The vast majority of human beings direct their activities towards earning a living, generating wealth and improving their standard of living. You can choose your career from two broad categories of options – Wage Employment or Entrepreneurship. The term ‘career’ signifies a continuous, ever evolving, ever expanding opportunity for personal as well as business growth and development. We may define entrepreneurship as a career in your own business [YOB] rather than wage employment [JOB] .If you opt for a job then you ill work for others. In case you opt for entrepreneurship you will be your own boss. In case of wage employment one is engaged in routine work carried on for others for which he receives†¦show more content†¦b) Non availability of capital Inventions are capital oriented. In less developed countries most capital equipment have to be imported which involves foreign exchange which acts as a difficult problem. c) Great risk Risk is high in case of less developed countries as there is lack of reliable information, markets for good and services is small etc. d) Non availability of labor and skills Though there is abundant labor supply there is generally scarcity of skills at all levels.’ 2. SOCIAL FACTORS A society that is rational in decision making would be favorable for decision making. Education, research and training is given less importance in less developed countries therefore there is very little vertical mobility of labor. 3. CULTURAL FACTORS Religious, social and cultural factors also influence the individual taking up an entrepreneurial career, in some countries there is religious and cultural belief that high profit is unethical. This type of belief inhibits growth of entrepreneurship 4. PERSONALITY FACTORS In less developed countries the entrepreneur is looked upon with suspicion. Public opinion in the less developed nations sees in the entrepreneur only a profit maker and exploited. 5.MOTIVAT ION Motivation is the act of stimulating someone or oneself to get a desired course of action, to push the right button to get the desired results. MOTIVATING FACTORS 1. Education background 2. Occupational experience 3. Family background 4.Show MoreRelatedThe Academy Of Business And Entrepreneurship Charter School1408 Words   |  6 PagesI. SCHOOL DESIGN The Academy of Business and Entrepreneurship Charter School is a K-12 model school utilizing a unique combination of PA Common Core Standards aligned curriculum and specialized programming with a focus on developing 21st Century skills to prepare students for their post- secondary goals. 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